empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

06.07.202008:10 Forex Analysis & Reviews: Technical analysis of EUR/USD currency pair for the week of July 6-11

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Trend analysis.

The price, from the level of 1.1245 (closing of the last weekly candle) can continue to move up this week, with the first goal of 1.1276 – a pullback level of 76.4% (blue dotted line). After reaching this level, work further up with the next target 1.1330 - resistance line (red bold line). From this line, work can start downwards.

Exchange Rates 06.07.2020 analysis

Fig. 1 (weekly schedule).

Comprehensive analysis:

- indicator analysis - up;

- Fibonacci levels - up;

- volumes - up;

- candlestick analysis - neutral;

- trend analysis - up;

- Bollinger Lines - up;

- monthly chart - up.

The conclusion of a comprehensive analysis is an upward movement.

The total result of calculating the candlestick of the EUR/USD currency pair according to the weekly chart: the price for weeks is more likely to have an upward trend, with the absence of a lower shadow for the weekly white candlestick (Monday - up) and the absence of a second upper shadow (Friday - up).

The first upper target of 1.1276 is a pullback level of 76.4% (blue dashed line). Upon reaching this level, work further upward to the next goal of 1.1330 - resistance line (red bold line). It is possible to pull back down from this line.

An unlikely scenario: working down with a target of 1.1121- pullback level of 38.2% (red dashed line) when moving up and reaching a pullback level of 76.4% - 1.1245 (blue dashed line) is unlikely.

Stefan Doll
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off